On Thursday evening, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While the network is hardly a flawless news source, her statement rang true to many. It stands as one of the broadcasters where there exists grounded and generally dependable reporting – particularly during crises such as the one taking place near a New Hampshire storage facility.
A Precarious State During a Business Struggle
But CNN, now middle-aged, finds itself in a precarious position as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws with roots in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a corporate drama with key players as the protagonists, but there is very little discussion of the public interest,” Pickard said.
A Further Factor: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Further Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be contested by regulators,” Wu recently wrote.
The Core Challenge and a Path Forward
Regardless of the resolution in this situation, the bigger problem endures.
“The present media landscape is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can fix it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the concentration of media power in a handful of hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the latest corporate chess match.
